TRUMP traders eye $2 line in the sand as 6.3M token unlock looms on the horizon 👀

Official Trump [TRUMP] fell 2.6% over the past 24 hours, bringing its market cap to $477 million, while daily trading volume dropped 32% to $271 million. Liquidity remained intact, with a volume-to-market cap ratio of 56.88%. The token's price action followed a breakout last week from a descending channel that pushed TRUMP to $2.40 before entering a current correction phase. At press time, the memecoin was pulling back from that high, with the $2 level serving as a key short-term support zone. A break below that level could expose $1.80, the area where the breakout originally occurred.

Technical indicators pointed to a neutral-to-cautious setup. The Relative Strength Index (RSI) stood at 51, reflecting mild retracement rather than heavy selling pressure, after the indicator had recently moved above the neutral zone. The MACD histogram remained green, though its bars were fading; the signal line continued to point upward, a pattern that historically can precede continuation. If support held, the price could revisit the $2.60-$3 range, with a further extension toward the $3.50-$4 zone.

Beyond technicals, the pullback was shaped by broader market conditions and an upcoming supply event. Last week's 25% rally likely triggered profit-taking, and risk-off sentiment across the crypto market added to the pressure. According to project schedules, approximately 6.3 million TRUMP tokens worth $13.8 million are set to be unlocked next week, representing roughly 0.63% of circulating supply. Daily releases of about $1.87 million, or 0.09% of supply, are also expected over the same period, an event class that often increases near-term selling pressure.

On-chain data showed some large holders moving against that tide. According to Onchain Lens, a whale withdrew 1.5 million TRUMP tokens worth $3.16 million from Binance, including the largest single transfer of 600,000 TRUMP tokens valued at roughly $1.27 million. The funds were sent to newly created wallets outside exchanges, a pattern typically associated with accumulation rather than immediate selling. Whether that buying is enough to defend key levels and absorb the upcoming unlock remains the central question for the token's near-term trajectory.